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Afterpay, an Australian buy-now-pay-later company, announced underlying sales of $ 2.2 billion in fiscal 2019, representing a 140 percent increase over the previous year. Previous year.
Afterpay's performance in the first half of fiscal 2015 increased by 140% over the previous year, with more than 3.1 million active customers in the last 12 months.
Afterpay's strength is proven: With its growing number of users, the company served more than 23,000 merchants worldwide and had 3.1 million active customers in the past year.
After payroll, there was an average increase of approximately 7,500 new clients per day in the second quarter of fiscal year 19.
In Australia and New Zealand, the company had underlying sales of AUD 2 billion, processed on its platform in the last 12 months.
The company has approximately 2.5 million customers and more than 21,500 retailers use Afterpay in Australia and New Zealand.
Late fees represented less than 20% of total income, compared to 25% of total income in the previous year.
Afterpay's business model, based on flexible spending limits, predicted that over 90% of monthly sales came from loyal customers.
The Afterpay share price among the best performers in the ASX
Afterpay's stock price surged ahead in the news, making it the ASX's best performance on Friday, with its December sales being the largest ever.
Post-payment rose 14% to $ 16.26 after the market closed on Friday, reaching its highest level since October 9th.
Sales continued to grow despite the Royal Commission
Afterpay's results continued to grow despite a Senate inquiry into the buy-now-pay-later industry announced last year.
The company's shares fell by 18% in the news of the Senate's survey on payday lenders last year.
The survey proposed by the Senate deals with payday lenders, consumer leasing companies and other financial technology companies in the sector.
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